Arms industry

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Defence is the ultimate public good, and it thus falls to government to determine the appropriate amount of public revenue to commit to the defence of the realm. This will depend on history, strategic threat, international security obligations, entreaties from allies and, of cou…

In 1989 the end of the cold war was brought about by diplomatic and political change. The defence industries, which had previously benefitted from stable and steadily growing military expenditure, were faced with a long term decline in domestic and world markets. While there wer…